Have finally read "manias and mimesis" by @byrneseyeview and @tobiasahuber, highly recommended. Not sure that the main premise is correct, did not understand the factor investing part, but there were a lot of interesting ideas and anecodotes in that paper! https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3469465 …
Dynamics that makes the challenging startup's price more volatile and the incumbent's price more stable (before it suddenly goes to zero).pic.twitter.com/u3x96ZDbGt
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The "Mimesis dot com" chapter is a must-read, this abstracted description of amazon and google is great (though doesn't mention the interchangeability of the copies of the same book, or is that what "supply is fragmented" mean?)pic.twitter.com/4vpbDk2wGU
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On the bifurcation of viewpoints that the bubble creates, splitting the investor more and more into two disjoint groups, and how it makes the fallout after the bubble worse.pic.twitter.com/t6SGsA5DcT
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Go read the whole thing! You may have to sign up at http://ssrn.com to read it, but it is worth it!
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I couldn't find much discussion of the paper, but there is this good rebuttal on reddit with a great ad hominem: "...and the authors of this post seem to have a mimetic desire to emulate Girard!" https://www.reddit.com/r/thebrowser/comments/ck7fq4/manias_and_mimesis_a_girardian_view_of_bubbles/ …pic.twitter.com/ajwexqMlsh
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